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Published: March 15, 2024
Updated: March 15, 2024
A lot of action is taking place in the Aditya Birla group. It is listing Novelis in the US, just launched its paints business, and is getting ready to launch a chain of Tanishq-type luxury jewellery stores by Diwali. The group will also invest Rs 2,000 crore in Vodafone Idea even as it inducts new equity partners by 2025. The paint brand ‘Birla Opus’ is aiming for Rs.10,000 crore in gross revenue within 3 years of full-scale operations.
The group is also getting aggressive in the real estate business and has launched several luxury real estate development projects in Mumbai and nearby areas. But the biggest news will be the Novelis listing which will unlock value for Hindalco shareholders. Analysts have pegged a valuation of Rs 80,121 crore, or about $9.7 billion, for Novelis. Even if Hindalco sells 20 per cent of its shares in Novelis, it will be a $2 billion cash gain for the Birla company.
February 15, 2025 - First Issue
Industry Review
VOL XVI - 10
February 01-15, 2025
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